Examlex
Explain the advantages of a Ravigneaux gear train over a Simpson gear train.
Industrial Regulation
Oversight and rules established by government agencies to govern how businesses can operate in certain industries to promote fair practices and competition.
X-inefficiency
A situation where a firm operates with higher than necessary costs due to a lack of competition or other inefficiencies, not achieving maximum productivity.
Principal-agent Problems
Conflicts of interest and challenges in monitoring that arise in relationships where one party (the agent) is supposed to act in the best interest of another (the principal).
Paradox of Voting
The situation where individual rationality leads to a collective decision that is worse for everyone involved.
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